The euro currency is not going to collapse, neither now nor in 20 years, European Commissioner for Economic and Financial Affairs Pierre Moscovici said on Thursday.
Moscovici was responding to comments by Ted Malloch, reported by media to be the likely new United States ambassador to the European Union, who has told the BBC he would short the euro because the single currency “could collapse” in the next 18 months.
“I don’t think this is a very informed judgment, the euro is not going to collapse, neither in 18 months, not in 10 years, nor in 20 years,” Moscovici told reporters on entering a meeting of euro zone finance ministers.
“We have a single currency, which is a major factor of unity among us, it is no use trying to divide the European Union,” he said.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.